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NZDUSD – RBNZD intervention and how do we profit from it?

I have been talking about selling NZDUSD about 1 month ago. It’s not new to Tflow® students. In fact, for recent intake Tflow® student intake 44, with their acquired skill and knowledge, they might have made quite some pips.

Talked abt $nzdusd short 1 month ago and esp during last #Tflow intake 44 course. Students who took tt course might hv made back sch fee

Big Picture Analysis

No bullishness seen in Day/Week close

Day candle don’t show any bullishness

Last week, H4 box shows bearish expansion

Mapping 1234 near to key historical resistance

We see a 1234 mapping with F6 and ED channel drawn. However, this is a relatively small 1234. But considering the strength in its current momentum and that it is near to a strong resistance, I’m still thinking it should be bearish. Again caution raised here.

WR trigger will be faster than a F6 trigger. There is no better trigger. Each trigger has its merit. Most important is risk management. Can you take the risk?

Other NZD crosses are also mapping out similar 1234 pattern e.g. nzdjpy nzdcad.

And is 0.68 possible….well Let me be more conservative *big smile*

How about 0.74? Low of ED channel. Let me know when this number comes true!

0.74 in nzdusd…

Updated by Binni Ong 2 oct 11.52am

NZDUSD is retracing into a bigger pattern. F6 was not triggered on H4 close, however, WR buffer was. If there is a close above 7860, yesterday high, then we might see more retracement of NZDUSD towards higher price.

Updated by Binni Ong 10 Oct 7pm

We hate retracement when we have a position. We like retracement when we have no position. I have a love/hate relationship with “retracement”.

In the previous update, NZDUSD went above 7860 and went higher towards 7960. All these movements is part of the retracement as resistance remains intact.

Resistance still stays

Price mapped a complex retracement instead of a simple one; this is a good sign because the retracement period is now longer, meaning any subsequent movement will be stronger

Multiple 1234

Currently price supported by F6

F6 and 1234

Pattern has a gentle 13TL, I suspect price might retrace up again towards resistance. However, I would think it is bearish if price can break 13TL

13TL and 1234

Due to gentle slope in 13TL, I prefer to let price close below 13TL.

#tflow trade wk 41/2 $nzdusd below 7815 F6 has S at 13TL. ONLY when 13TL has been broken, then S at 0.74 exposed. If price don’t close below F6, there is a chance that price will retrace again towards resistance as mapped above